Retail sales increase of 1% ‘only a blip’

BETTER-THAN-EXPECTED retail sales figures for August do not reflect a change in the country’s economic fortunes, economists warned yesterday.

Retail sales rose 1% in August from July and was 4.3% higher year-on-year, according to the latest data from the Central Statistics Office (CSO) .

In July, retail sales rose 1.1% on the month but were 4.1% higher on the year. Excluding sales of motor vehicles, retail sales rose 1.8% in August from September.